Target withdraws forecasts, curbs spending to meet virus-related demand [Reuters]
Target Corporation (TGT)
Last target corporation earnings: 3/3 06:30 am
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Source: Reuters
Target withdraws forecasts, curbs spending to meet virus-related demand March 25 (Reuters) - Target Corp on Wednesday withdrew its financial outlook and said it would scale back on planned investments to focus on meeting surging demand as Americans stock up on essentials and stay home to slow the spread of the coronavirus outbreak. The big-box retailer said it now plans to remodel only about 130 stores in 2020, down from 300, moving the rest of the projects to 2021. Target added it would open fewer small format stores than it had previously planned. “It’s become very clear that we need to be disciplined about making sure our stores and supply chain is focused on serving our guests without any unnecessary distractions,” Chief Executive Officer Brian Cornell said. “We’ll need to prioritize the flow of food, medicine and other essentials for the foreseeable future.” In the past few weeks, consumers have been flocking to stores to load up on canned food, disinfectants, toilet paper and ot
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TGT
Earnings
- 3/5/24 - Beat
TGT
Sec Filings
- 4/11/24 - Form 4
- 4/11/24 - Form 4
- 4/11/24 - Form 4
- TGT's page on the SEC website